Yandex says Nasdaq decides against delisting of firm’s shares

MOSCOW, Jun 8 (PRIME) -- U.S. stock exchange Nasdaq has satisfied a request of Amsterdam-based Yandex N.V., the parent company of Russian Internet giant Yandex, and will not delist its Class A shares, Yandex N.V. said on Thursday in a statement.

“On June 6, 2023, Yandex received notification of the Hearings Panel’s decision to grant the request of Yandex to continue its listing on Nasdaq, subject to certain conditions related to the timing and implementation of Yandex’s proposed corporate restructuring, including the divestment of ownership and control of a number of our core businesses, including all Russia-based businesses, by the end of 2023,” the company said.

Yandex N.V. also said that the trading halt on Nasdaq that was implemented on February 28, 2022 remains in effect. The trading on the Moscow Exchange continues.

The company on March 15 received a written notice from Nasdaq on the intention to delist its Class A shares.

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